XML 20 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 207,492 $ 687,419
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable (252,609) (174,583)
Decrease (increase) in funds held by reinsureds, net (23,498) (55,421)
Decrease (increase) in reinsurance receivables (147,515) (19,319)
Decrease (increase) in income taxes (25,000) 180,126
Decrease (increase) in prepaid reinsurance premiums (29,699) (137,092)
Increase (decrease) in reserve for losses and loss adjustment expenses 800,816 155,096
Increase (decrease) in future policy benefit reserve (1,933) (1,648)
Increase (decrease) in unearned premiums 159,744 219,263
Increase (decrease) in other net payable to reinsurers 89,499 132,474
Increase (decrease) in losses in course of payment 147,427 35,738
Change in equity adjustments in limited partnerships 84,066 (57,031)
Distribution of limited partnership income 40,447 41,321
Change in other assets and liabilities, net (10,313) (60,820)
Non-cash compensation expense 19,175 17,171
Amortization of bond premium (accrual of bond discount) 20,547 13,321
Net realized capital (gains) losses 25,940 (122,504)
Net cash provided by (used in) operating activities 1,104,586 853,511
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called - available for sale, at market value 1,261,650 1,009,921
Proceeds from fixed maturities sold - available for sale, at market value 990,273 2,318,207
Proceeds from fixed maturities sold - available for sale, at fair value 2,706
Proceeds from equity securities sold, at fair value 213,185 149,233
Distributions from other invested assets 164,975 143,752
Cost of fixed maturities acquired - available for sale, at market value (2,301,701) (3,466,331)
Cost of equity securities acquired, at fair value (224,086) (229,070)
Cost of other invested assets acquired (343,332) (207,323)
Net change in short-term investments (439,457) (499,983)
Net change in unsettled securities transactions 49,504 88,531
Net cash provided by (used in) investing activities (628,989) (690,357)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Common shares issued during the period for share-based compensation, net of expense (12,841) (7,485)
Purchase of treasury shares (200,019) (24,604)
Dividends paid to shareholders (125,205) (114,136)
Cost of debt repurchase (10,647)
Cost of shares withheld on settlements of share-based compensation awards (14,141) (11,748)
Net cash provided by (used in) financing activities (362,853) (157,973)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 1,699 91
Net increase (decrease) in cash 114,443 5,272
Cash, beginning of period 808,036 656,095
Cash, end of period 922,479 661,367
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) 10,895 (83,995)
Interest paid $ 14,992 $ 15,984